The cost of flying has plummeted in the past 10 years - and, despite protests from environmentalists that flights are already too cheap, they are about to drop even further. This week Ryanair's chief executive, Michael O'Leary, announced plans to launch a transatlantic service from $12 one way. Airline experts have always argued that the low-cost model, which is based on fast turnaround, short-haul flights in Europe, wouldn't work on longer haul routes, but in characteristically bullish manner, O'Leary says Ryanair will serve six US cities from Europe within the next four years.

The $12 fare makes new low-cost flights launched by Zoom this week seem positively steep. Zoom, which currently operates low-cost flights between the UK and Canada, is starting five flights a week from Gatwick to JFK from June 21 (flyzoom.com, 0870 2400555). One-way fares will cost from £129 (incl taxes, fees and charges). Unlike the budget airlines, it will offer designated seating and meals in economy and Premium economy.

If you're planning an early summer trip, you might want to book a table at one of the restaurants taking part in Summer Restaurant Week, the twice-yearly promotion where 200 or so establishments offer a three-course lunch menu for $20.07 (check nycvisit.com for dates). Other events upcoming include Gay and Lesbian Pride (June 25) and the July 4 celebrations which means fireworks, parades and the legendary Coney Island Hot Dog Eating contest for a slice of American kitsch that could hardly be further than the glossy, Jimmy Choo'd hangouts of Manhattan.

Speaking of which, The Bowery, an oh-so-trendy hotel bordered by the East Village, Soho and Noho, opened last week. With rooms starting at $325, it will easily swallow up any savings made on the flights. To continue the budget theme, check out East Village Bed & Coffee, with nine rooms from $110, (bedandcoffee.com).